Alabama § 27-15-16 Annuity and Pure Endowment Contract Provisions - Generally

Alabama Statutes

§ 27-15-16 — Annuity and Pure Endowment Contract Provisions - Generally

Alabama § 27-15-16

Title 27Insurance

Ch. 15Life Insurance and Annuity Contracts

Art. 1General Provisions

This text of Alabama § 27-15-16 (Annuity and Pure Endowment Contract Provisions - Generally) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 27-15-16 (2026).

Text

(a)No annuity or pure endowment contract, other than reversionary annuities, survivorship annuities, or group annuities and except as stated in this section, shall be delivered or issued for delivery in this state unless it contains in substance each of the provisions specified in Sections 27-15-17 through 27-15-22. Any of such provisions not applicable to single premium annuities or single premium pure endowment contracts shall not, to that extent, be incorporated therein.

(b)This section shall not apply to contracts for deferred annuities included in, or upon the lives of beneficiaries under, life insurance policies.

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(a) No annuity or pure endowment contract, other than reversionary annuities, survivorship annuities, or group annuities and except as stated in this section, shall be delivered or issued for delivery in this state unless it contains in substance each of the provisions specified in Sections 27-15-17 through 27-15-22. Any of such provisions not applicable to single premium annuities or single premium pure endowment contracts shall not, to that extent, be incorporated therein.
(b) This section shall not apply to contracts for deferred annuities included in, or upon the lives of beneficiaries under, life insurance policies.